WASHINGTON (dpa-AFX) - Big Lots, Inc. (BIG) reported first-quarter income from continuing operations of $32.3 million, or $0.60 per share compared to $28.6 million, or $0.50 per share, prior year.
On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.59 for the quarter. Analysts' estimates typically exclude special items. ? Net sales decreased 0.1% to $1.28 billion. Comparable store sales for stores open at least fifteen months increased 1.6% for the quarter. The company said the increase in comparable store sales was offset by a slightly lower store count compared to last year. Analysts expected revenue of $1.28 billion for the quarter.
For the second quarter of fiscal 2015, the company estimates income from continuing operations will be in the range of $0.31 to $0.35 per share. The guidance is based on an estimated comparable store sales increase in the 2% to 3% range. Analysts expect the company to report second-quarter earnings per share of $0.37.
The company updated its guidance for the full year of fiscal 2015. Big Lots estimates fiscal 2015 income from continuing operations will be in the range of $2.80 to $2.90 per share. The outlook is based on a comparable store sales increase in the low single digit range and total sales approximately flat. Analysts expect the company to report full year earnings per share of $2.87.
Big Lots also announced that, on May 28, 2015, the company's Board declared a quarterly cash dividend of $0.19 per common share. The dividend will be paid on June 26, 2015, to shareholders of record as of the close of business on June 12, 2015.
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